The global food crisis of 2007-2008 is threatening to repeat in the coming months, as the worst drought in 50 years devastates the US corn crop, with 51% of the crop rated "Poor/very poor" by the US Department of Agriculture. This crop is said to be on a par with that of 1988 crop, the worst in the past thirty years. Note that the US is the top producer and exporter of corn.
The worst drought in the US in at least half a century has destroyed one-sixth of the country’s expected corn crop in a month threatening a surge in global food price inflation.The US government estimated corn farmers had abandoned ... Read Post
Federal forecasters are predicting record prices for corn prices, raising fears of a new world food crisis as the worst U.S. drought in half a century continues to punish key farm states. The U.S. Department of Agriculture on Friday... Read Post